Dec 12, 2012 4:00am EST
it hasn't put on the table before. in an interview with abc news, president obama says he still expects a deal before the end of the year. >> i remain optimistic that there are enough people of goodwill who recognize the economy will be better off. american families will be better off if we get this done. the most important thing we can do is make sure that middle-class taxes do not go up on january 1. i'm confident that republicans would not hold middle-class taxes hostage to try to protect tax cuts for high income individuals. >> you see president obama's full interview with barbara walters friday on "20/20." boehner is demanding more details on spending cuts. the administration has made expensive proposals to reduce spending, but the republicans haven't offered specifics on revenue hikes. >>> today the federal reserve wraps up its two-day meeting with a decision at 12:30 eastern followed by updated economic projections from fomc members at 2:00 p.m. and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program,
Dec 6, 2012 4:00am EST
done heading in to the new year. >> we stay bullish. >> president obama and house speaker john boehner spoke by phone wednesday, but there's been no announcement by either side of any upcoming face to face budget talks. earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> with both sides in washington publicly digging in their heels, how much will the fiscal cliff impact the credit mar
Dec 7, 2012 4:00am EST
privately resumed before john boehner and the white house. the "wall street journal" says this breaks a new week long silence as that deadline looms. president obama and boehner spoke by phone on wednesday. they promised to renew the negotiations. several top executives have also weighed in on thursday. >> there's been some movement. everybody realizes there has to be a revenue component, spend component, entitlement reform component. >> patrick, where does it hang on now for you? clearly the president last decided there has to be tax rises for the wealthy. if the democratic side can come up with entitlement cuts, maybe we get a deal. >> i think this is pure political theater. this is a situation that was created 18 months ago in order for the politicians to get by the election. now they've done so. we still confront the same fiscal unsustainability here in the united states that's been evident to everybody for the the past five, six years. what we all recognize is we need more revenue, we needless spending, it's really a matter of a couple of adults getting in a room and figuring out how t
Dec 10, 2012 4:00am EST
morning. president obama and john boehner meet face-to-face on sunday. does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.